Tether changes issue policy to fractional banking

From our most stable reporter

Breaking news: Tether Limited Inc. has announced that they will change their issue policy from a 1:1 collateral to 1:1.000. For every 1 dollar deposited Tether Ltd. Inc. will put another 999 on the market. All old and new issued USDT will still be worth the full American dollar though.

The whole crypto world was staggered by this bold move. Everyone thought USDT would hold true to their 1:1 collateral to keep the price pegged to the dollar.

Tether explains their move

“If we change our policy, soon we will have a marketcap higher than Bitcoin and we will be the market leader, all other blockchains will look up to. When the price of Tether moves, all other cryptocurrencies will follow our lead.

Once we have a marketcap of more than 100 trillion dollars we expect that everyone wants to have more USDT, so the price will start going up. This is very good news for current holders of this coin, as we aim for a new pricerange of $10 to $100. USDT will be the new paper, as Bitcoin was the new gold. Of course, Bitcoin will be dumped en masse, as they are not the most important blockchain anymore.”

Our most stable reporter thought about this for a couple of weeks. Then he had his Wickie the Viking moment:

“But hey, you guys at Tether Ltd. Inc., wouldn’t the price of USDT go down very quickly, once people realize there is just 1:1000 collateral?”

Them guys from Tether were like, very cynical, or so:

“Well, we studied the banks in the world and we realized, once we have a market cap of $100 trillion, we are too big to fail. If anyone is gonna bust our balls, the people of America must bail us out.”

Our most stable reporter was lost for words since and took up a holiday to go to the desert to contemplate life and shit. One day we hope to see him again.

We will keep you posted, here at the Cryptologe!